Luxembourg Official Top150

6.6%

inflation forecast for 2022 and 5.3% for 2023

5367.849bn€

net assets under management in Luxembourg funds in May 2022

20.1%

increase in interest margin of credit institutions in the first quarter of 2022 compared to the same period in 2021

+ 3.4%

domestic employment over a year

All the news that’s fit to browse - October 2022

Héloïse Bock and Philippe Schmit: Why does Luxembourg attract?

Luxembourg is at the forefront when it comes to attracting entrepreneurs, offering all the keys they need to set up and grow in an environment that stimulates enthusiasm and entrepreneurial spirit. Héloïse Bock and Philippe Schmit, experts in Intellectual Property, Communication & Technology and Employment Law respectively, explain some of the distinctive features and legal aspects that make Luxembourg such a compelling jurisdiction.

Innovation made easy

In the field of communications technologies, the Grand Duchy offers an extremely high-quality internet infrastructure and data centre network with world-class performance and reliability. Entrepreneurs can count on institutions such as the Luxembourg Intellectual Property Institute, Luxinnovation, the University and the new Luxembourg Institute of Science and Technology which make available research facilities, practical advice and support for new businesses. From a legal point of view, Luxembourg offers particular benefits in terms of intellectual property rights, including a framework for transfer and exploitation and a user-friendly, inexpensive and multilingual regulatory system. The processes are easy and fast when it comes to creating a company and giving it a legal framework that protects patents, copyrights and any other intellectual property rights. Legislation on electronic archiving is now in the pipeline in order to provide a legal regime for the digital storage of documents. The key words remain reliability and security.

Wealth of human resources

Companies also benefit from a pragmatic and business-friendly legal framework for employment, which facilitates recruitment, efficient HR-management and even the restructuring of firms, if necessary. Luxembourg has set out its stall to attract and retain talent not only from within the EU, but also from further afield. The country’s immigration rules reflect its welcoming stance to non-nationals, with fast processing of applications. At the same time, easy, informal access to decision-makers helps to cut through red tape. Government departments provide rapid assistance in putting together the workforces needed for any company wishing to settle in the country. For example, Luxembourg has recently been helpful in the establishment of six Chinese institutions in Luxembourg and in the welcome extended to US gaming companies.

Global reach

 Luxembourg’s representative ‘trade offices’ in hubs of innovation such as Asia or San Francisco provide interested entrepreneurs with an initial opportunity to examine what the Grand Duchy has to offer without having to travel to Europe. Once the decision has been taken things move fast and entrepreneurs who decide to take the plunge and move to Luxembourg may find it hard to leave again. It is also easy to join clusters of industry expertise and link with companies which are already well established. The country offers an excellent quality of life and a family-friendly environment in addition to all the elements needed to provide an innovative start-up with the means to succeed, from financing to IP protection and easy access to supportive administrations, authorities and decision-makers.